Over 29.55 crore loans sanctioned under PM Mudra Yojana: Centre

New Delhi [India], August 2 (ANI): Over 29.55 crore loans amounting to Rs 15.52 lakh crore have been sanctioned under Pradhan Mantri Mudra Yojana (PMMY) across the country since its inception in April 2015, the Centre informed the Rajya Sabha on Monday.

In a written reply in the Upper House, Union Minister of State for Finance Dr Bhagwat Kisanrao Karad said under the Mudra Yojna by the Prime Minister, institutional credit up to Rs 10 lakh is provided by Member Lending Institutions (MLI) for entrepreneurial activities to micro and small business units, including for new enterprises.

He said that a target of sanction of Rs 3 lakh crore has been fixed for MLIs.

"As per data uploaded by Member Lending Institution on Mudra portal, over 29.55 crore loans amounting to Rs. 15.52 lakh crore has been sanctioned under PMMY across the country, since the inception of the Scheme in April 2015. Of these, more than 6.80 crore loans amounting to Rs. 5.20 lakh crore has been extended to New Entrepreneurs and Accounts," the minister stated. (ANI)